Stocks trading higher amid some hope for recovery
Dhaka stocks on route to recovering from the previous session's fall have been trading higher since Thursday morning. Thanks to the bargain hunters who reappear to bag some oversold shares as soon as they fall.
However, their confidence seemed to be a little shaken in the last session of the week as the DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), only recovered 0.8% to reach 6,211 points at 1.30 pm against a 0.26% drop on Wednesday.
Meanwhile, 67 scrips advanced and 26 declined while almost three in every four stocks were stuck on the floor prices.
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The premier bourse registered TK183 crore in trading turnover in the first three and a half hours which was Tk328 during the full session on Wednesday.
Stockbrokers said the option for investors to switch stocks became too limited for leaving majority shares out of regular trading, while the recent selloff in a number of trendy shares reduced confidence in trading.
Small caps dominate DSE gainers
Amid the lower turnover, small-cap stocks appeared to lead the gainers in the Dhaka Stock Exchange (DSE) on Thursday.
Legacy Footwear was the top gainer at 1.45pm with 9.98% gains, followed by Samata Leather, Hakkani Pulp, ISN Limited, Eastern Housing, GQ Ballpen, Sinobangla Industries, BD Welding Electrodes, Prime Islami Life Insurance and Samorita Hospital.
The hospital company shares gained by 3.9% to be at the tenth spot.
